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SolarEdge Technologies (SEDG) Gains But Lags Market: What You Should Know
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SolarEdge Technologies (SEDG - Free Report) closed at $307.08 in the latest trading session, marking a +0.01% move from the prior day. This change lagged the S&P 500's 0.1% gain on the day. At the same time, the Dow added 0.12%, and the tech-heavy Nasdaq lost 0.02%.
SEDG will be looking to display strength as it nears its next earnings release, which is expected to be February 16, 2021. In that report, analysts expect SEDG to post earnings of $0.87 per share. This would mark a year-over-year decline of 47.27%. Our most recent consensus estimate is calling for quarterly revenue of $354.64 million, down 15.2% from the year-ago period.
Any recent changes to analyst estimates for SEDG should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.12% higher within the past month. SEDG is currently a Zacks Rank #2 (Buy).
Investors should also note SEDG's current valuation metrics, including its Forward P/E ratio of 65.64. Its industry sports an average Forward P/E of 65.64, so we one might conclude that SEDG is trading at a no noticeable deviation comparatively.
Also, we should mention that SEDG has a PEG ratio of 2.19. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Solar industry currently had an average PEG ratio of 2.13 as of yesterday's close.
The Solar industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 74, putting it in the top 30% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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SolarEdge Technologies (SEDG) Gains But Lags Market: What You Should Know
SolarEdge Technologies (SEDG - Free Report) closed at $307.08 in the latest trading session, marking a +0.01% move from the prior day. This change lagged the S&P 500's 0.1% gain on the day. At the same time, the Dow added 0.12%, and the tech-heavy Nasdaq lost 0.02%.
SEDG will be looking to display strength as it nears its next earnings release, which is expected to be February 16, 2021. In that report, analysts expect SEDG to post earnings of $0.87 per share. This would mark a year-over-year decline of 47.27%. Our most recent consensus estimate is calling for quarterly revenue of $354.64 million, down 15.2% from the year-ago period.
Any recent changes to analyst estimates for SEDG should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.12% higher within the past month. SEDG is currently a Zacks Rank #2 (Buy).
Investors should also note SEDG's current valuation metrics, including its Forward P/E ratio of 65.64. Its industry sports an average Forward P/E of 65.64, so we one might conclude that SEDG is trading at a no noticeable deviation comparatively.
Also, we should mention that SEDG has a PEG ratio of 2.19. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Solar industry currently had an average PEG ratio of 2.13 as of yesterday's close.
The Solar industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 74, putting it in the top 30% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.